CAULDRON OF CORRUPTION. ON TOP IS "BOFORS CHOR", S.O.B.

Comment

Bhartiya Janta Party M P Confessed of paying bribe to The Chairman of Punjab National Bank.

Mr. Surinder Singh Kohli, Chairman Cum Managing Director of Punjab National Bank sanctioned loan of Rs. 40 Crores to a Trust whose trustees were declared absconder by Gujarat Police for cheating a Cooperative Bank in Gujarat to a tune of Rs. 80 Crores.

Mr. Surinder Singh Kohli not only sanctioned loan of Rs. 40 Crores to the Trust whose trustees had already cheated another bank for Rs. 80 Crores but also disbursed loan. The loan was disbursed on the goods that were never purchased. All the transactions were only on paper.

Mr. Kanak Sinh Mangrola during his police interrogation had confessed of cheating different banks. He also confirmed of paying bribe worth Rs. One Crore to Mr. S S Kohli for sanctioning and disbursing the loan worth Rs. 40 Crores. Mr. Kanak Sinh Mangrola also confirmed during Police Interrogation that all the transactions were made only on paper. He also confessed of sending money to UK and USA through Hawala.

See the close ne xus between thuggish politicians, corrupt bureaucrats and unscrupulous businessmen.

On 5th Dec 2002, documents of all the properties were submitted to the Legal Counsel M/S C C Gandhi & Co., Advocates and Solicitors, an approved advocate on the panel of Punjab National Bank. These are the documents of the immovable properties of Mr. Kanak Sinh Mangrola, his friends and relatives against a loan proposal, which was yet to be submitted to Punjab National Bank for necessary appraisal and sanctioning.

On 30st January 2003, Gujarat Police registered an FIR for a fraud of more than Rs. 100 Crores with a bank of whom Mr. Kanak Sinh Mangrola was the founder chairman.

On 31st January 2003, Gujarat Police arrested Mr. Mukesh Desai, a trusted lieutenant of Mr. Kanak Sinh Mangrola, who remained behind bars for more than One year.

On 1st February 2003, Gujarat Police raided more than 60 places and arrested more than 30 peoples who hav e defrauded a bank of whom Mr. Kanak Sinh Mangrola was the founder chairman and Mr. Mukesh Desai was the Controller of the Bank. More than 10 Crores were recovered within one month.

On 13/02/2003 Mr. Kanak Sinh Mangrola, his friends and relatives were raided by Gujarat Police and were declared absconders as none of them could be arrested.

On 22/02/2003, fictitious purchase bills that were presented to Punjab National Bank for a disbursement of the loan that was sanctioned at a later date.

It is alleged that during 1994-1996, TRIFED entered into several Memorandum of Undertakings with different companies of Mr. J P Lath for procurement of Sai Seeds in violation of laid down rules and allowed undue concession to the companies resulting in huge losses to TRIFED.

This is the Fifth Edition of Tainted Petrol Pumps and Gas Agencies allotted by N D A Government.

The Supreme Court sought the governments response on shutting 297 petrol pumps whose closure has been recommended by a committee that probed their allotment.

It is to be recollected that after Petrol Pumps scandal came to light in the year 2002, Vajpayee Government cancelled all the allotments of petrol pumps and gas agencies between 2000 and 2002.

The committee, appointed by the court, had examined 409 allotments of petrol pumps and gas agencies by the previous National Democratic Alliance government and recommended cancellation of 297 "tainted" allotments.